Ray White’s Graeme Russell and Troy Townsend are selling the ‘Adventurers Resort’ at 79 Palmer Street, South Townsville which is being offered to the market with a price tag of $3 million.

The four-storey complex was originally constructed as backpacker accommodation and has pivoted to casual, semi-permanent and emergency rental.

Mr Russell said major clients include government and private sector agencies with the property licensed for 218 guests.

The property features two street frontages and has a land area of 2833 square metres while the zoning is High Density Residential.

Improvements comprise a four-storey complex of 4800 square metres GFA with rooftop pool, communal kitchen, laundry and bathroom facilities along with basement parking and breakout area, a two-bedroom managers residence, bar, double single and dormitory rooms. There is basement car parking with rear access.

Open water dive training courses are currently held in the rooftop pool overlooking Cleveland Bay.

“The property was acquired by the YHA in 1997 and ran as a hostel for some time.

“The present owners have moved away from backpackers during Covid and have developed relationships with providers of emergency and short-term accommodation to locals.

“The backpackers are returning and the waterfront location close to the ferry terminal and dive charters has always been popular,” he added.

Mr Russell said the property was positioned in a prime location near restaurants and the ferry and barge service to Magnetic Island.

“There is plenty of upside from vacant entertainment and the waterfront retail area as well,” he said.

The property is being offered for sale with vacant possession.

To request a copy of the Information Memorandum please contact one of the marketing agents Ray White’s Graeme Russell and Troy Townsend via the contact details below.

527339ad-a8e4-4128-bc5e-f387a3feb4cb.jpeg